The Impact of Financial Development on Carbon (CO2) Emissions in Türkiye: A Sectoral Perspective within the Framework of Environmental Kuznets Curve Hypothesis

Yıl 2024, Cilt: 32 Sayı: 61, 427 - 454, 30.07.2024

Onur Şeyranlıoğlu

https://doi.org/10.17233/sosyoekonomi.2024.03.20

Cited By: 1

Öz

This study aims to examine the effect of financial development on carbon (CO2) emissions from the manufacturing industry and construction sector in the context of the Environmental Kuznets Curve (EKC) hypothesis with the data from 1960-2014 in Türkiye. In the study, the ARDL bounds test was used to determine the cointegration relationship and the long and short-term coefficients of the model were estimated. FMOLS, DOLS and CCR estimators were used to confirm the accuracy of the long-run coefficients obtained by ARDL bounds test. According to the findings, a long-run relationship was found in the model. According to the long-run coefficients, increases in financial development decrease carbon emissions, while economic growth and energy consumption variables increase them. In addition, the EKC hypothesis is found to be valid. FMOLS, DOLS and CCR estimator findings confirm the ARDL long-run coefficient estimates. The study is considered a candidate to fill an important gap in the literature in determining the determinants of sectoral carbon emissions in the context of the EKC hypothesis.

Anahtar Kelimeler

Financial Development, Sectoral Carbon Emission, Environmental Kuznets Curve, ARDL Boundary Test

Türkiye’de Finansal Gelişmenin Karbon (CO2) Emisyonlarına Etkisi: Çevresel Kuznets Eğrisi Hipotezi Çerçevesinde Sektörel Bir Bakış

Öz

Bu araştırmanın amacı, Türkiye’de 1960-2014 dönemi verileri ile finansal gelişmenin imalat sanayi ve inşaat sektörü kaynaklı karbon (CO2) emisyonlarına etkisinin Çevresel Kuznets Eğrisi (EKC) hipotezi bağlamında incelenmesidir. Araştırmada, eşbütünleşme ilişkisinin tespit edilebilmesi için ARDL sınır testi kullanılmış, modelin uzun ve kısa dönem katsayıları tahmin edilmiştir. ARDL sınır testi ile elde edilen uzun dönem katsayıların doğruluğunu teyit etmek için FMOLS, DOLS ve CCR tahmincileri kullanılmıştır. Bulgulara göre modelde uzun dönemli ilişki tespit edilmiştir. Uzun dönem katsayılara göre finansal gelişmedeki artışlar karbon emisyonlarını azaltırken, ekonomik büyüme ve enerji tüketimi değişkenleri ise yükseltmektedir. Ayrıca, EKC hipotezinin geçerli olduğu görülmüştür. FMOLS, DOLS ve CCR tahminci bulguları, ARDL uzun dönem katsayı tahminlerini doğrulamaktadır. Araştırmanın, EKC hipotezi bağlamında sektörel karbon emisyonlarının belirleyicilerinin tespit edilmesi noktasında literatürde önemli bir boşluğu doldurmaya aday olduğu düşünülmektedir.

Anahtar Kelimeler

Finansal Gelişme, Sektörel Karbon Emisyonu, Çevresel Kuznets Eğrisi, ARDL Sınır Testi

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